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Wednesday, March 9, 2016 - 15:51

 

 

Tēnā koe, Mr Assistant Speaker. National’s economic strategy is looking increasingly tattered, and this year’s Budget will be against a very different backdrop from recent years. National can no longer crow about a brighter future for New Zealand, because even in its rural heartland things are looking increasingly grim.

Wednesday, March 9, 2016 - 11:01

The Government must rule out mass sales of New Zealand rural land to overseas buyers if it’s to avoid a double disaster as the dairying slump forces farmers to the wall, the Green Party says.

Finance Minister Bill English this morning admitted the dairy industry is in an extreme scenario yet he had no solution to offer farmers other than that he hoped they’d “get through”.

Julie Anne Genter MP
Wednesday, February 24, 2016 - 11:06

Record, excessive profits in the banking industry and the high level of foreign ownership of the banking sector is causing long-term damage to the economy, the Green Party said today.

KPMG's latest Financial Institutions Performance Survey found New Zealand's banks posted record collective profits up 6.9 percent to reach an all-time high of $5.17 billion last year. Interest margins are also at ten-year highs at 2.28 percent.

Gareth Hughes MP
Wednesday, February 24, 2016 - 10:36

The cost to New Zealanders of National’s asset sales has today hit $1 billion, according to figures released by the partially privatised power companies.

The latest interim dividend figures from the partially privatised Mighty River Power, Genesis, and Meridian show that the Crown has forgone $945.14 million in dividends since the asset sales. The National Government spent $96 million on the asset sales programme, including bonus-share sweeteners for investors. Combined, that means the asset sales have a total cost of $1.041 billion to date.*

Julie Anne Genter MP
Friday, February 19, 2016 - 11:01

Government financial statements released today are further evidence that National is failing to manage the economy responsibly for long term stability, the Green Party said.

The financial statements for six months to 31 December 2015 showed a deficit of $889 million, $92 million higher than forecast. Core Crown debt grew to $66.9 billion, $1.1 billion higher than forecast.

Julie Anne Genter MP
Thursday, January 28, 2016 - 09:40

National’s housing policy half-measures aren’t enough to stop the Reserve Bank keeping interest rates on hold, which in turn is holding back small businesses, the Green Party said.

“If it wasn’t for the Auckland housing crisis, I’d expect the Reserve Bank to cut the Official Cash Rate to help businesses invest and hire more staff,” Green Party finance spokesperson Julie Anne Genter said.

Julie Anne Genter MP
Wednesday, January 27, 2016 - 11:03

More cracks are appearing in the National Government’s façade of economic management, with the Crown accounts back in deficit and international ratings agency Fitch downgrading its predictions for New Zealand’s economy, the Green Party said.

Julie Anne Genter MP
Wednesday, January 20, 2016 - 11:43

Low overall inflation provides ideal economic conditions for the Government to tackle snowballing housing costs, stagnating wages, and increasing climate pollution, the Green Party said today.

The Consumers Price Index released today showed 2015 experienced the lowest level of annual inflation since 1999, at just 0.1 percent.

Tuesday, December 15, 2015 - 14:28

National’s obsession with its nanosecond surplus has ended up being a lose-lose for New Zealand because it came at the price of fewer jobs and more pollution, the Green Party says.

The Government’s Half Year Economic and Fiscal Update today forecast a $401 million government deficit, GDP growth slowing to 2.1%, and unemployment rising to 6.5%. This is a step backward from the Budget 2015 forecasts of a surplus, 3.2% GDP growth, and 5.1% unemployment.

Thursday, December 10, 2015 - 10:33

With unemployment rising and the economy going off on the wrong track, cutting the Official Cash Rate (OCR) was the right decision to help small and medium-sized businesses invest to create jobs and bring mortgage payments down for families, the Green Party says today.

The Reserve Bank Governor today announced a 0.25% cut to the OCR bringing the new rate to 2.5%.